A have a look at Nvidia (NASDAQ:) throughout the timeframes. Beginning with the month-to-month chart, we are able to see the relentless transfer larger because the October 2022 low, and apart from the pullback in September and October of 2023, it’s been a one-way road.
However, January’s quantity does seem somewhat mild in regards to the candle vary, and with the inventory hitting ATHs, the query is at all times the place subsequent. The media is filled with targets for the inventory, with ranges as excessive as $1000 by year-end (or sooner).
On the chart, you will notice the degrees given by our Quantumtrading Camarilla indicator for this month alone. Nvidia might certainly proceed larger, however finally will probably be quantity that may validate any transfer.
Moving to the hourly chart, right here we see at present’s reversal in motion and likewise how I like to make use of the Quantumtrading Time Adjusted Renko indicator that aligns with the value motion. Using it on the hourly chart helps hold us in a commerce on the slower timeframes.
Finally, a better have a look at the reversal on the 15-minute chart the place we’ve got a beautiful instance of a extra nuanced VPA sign.
Since annotating the charts, Nvidia has certainly paused on the quantity level of management on the hourly chart. As we are saying in foreign exchange, it’s all about ranges and stream!